Cowen To Close Two Ramius Hedge Funds

Jun 16 2010 | 1:36pm ET

Cowen Group has decided to shutter two of Ramius Capital’s multi-strategy hedge funds in the wake of continuing redemptions.

The firm—created by the merger of Ramius and boutique investment bank Cowen last year—plans to offer investors in the funds redemption options for the liquid portions of the Ramius Multi-Strategy and Ramius Enterprise funds, HFMWeek reports. The move comes after redemptions crossed a threshold that allows Unicredit, one of the funds’ largest investors, to redeem its $668 million investments with just 30 days notice.

The Italian bank has agreed to participate in the slower wind-down of the funds, however. Ramius, as the hedge fund arm of Cowen is still known, told the Securities and Exchange Commission it would begin returning investor capital in July and should complete the liquidation by the end of the year.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note